Mattioli Woods profit up 60% as advice demand jumps

The firm’s pre-tax profits reached £7.6m in six months to 30 November

Sahar Nazir
clock • 2 min read

Mattioli Woods pre-tax profits increased by 60% to £7.6m in the six months ended 30 November 2023, thanks to an “increased demand for high-quality wealth management and financial planning advice”.

The wealth manager said the demand was driven by proposed pension and investment reforms, and market conditions. Revenue over the same period climbed to £59.1m, up 8%. Meanwhile, its expanded 'MTW Adviser Academy' increased its adviser base to 148, from 132 in the first half of 2023. Gross discretionary assets under management were at £4.6bn, with gross inflows of £326.4m, compared to £314.1m in the first half of 2023. It said an increase in new business led to organic growth of 4%, which was partly offset by the market impact on ad valorem fees of a 0.4% reduction in total clie...

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